Guaranteed Maximum Price (GMP) definition

Guaranteed Maximum Price (GMP) means the sum of the ECW, CCA, and the fee for the construction work.

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Guaranteed Maximum Price (GMP) means the offer of a proposal detailing the qualifications, assumptions, exclusions, value engineering and any and all other requirements set forth in the scope of Work for the construction phase.

Guaranteed Maximum Price (GMP) means the sum of the maximum Cost of the Work including the ▇▇▇▇’▇ Construction Fee, General Conditions Costs, sales tax, and ▇▇▇▇ Contingency.

Examples of Guaranteed Maximum Price (GMP) in a sentence

All ambiguous, confusing, conflicting and/or erroneous features discovered in the plans or specifications by the CM/GC during the review process shall be deemed to be corrected, and any associated costs shall be included in the CM/GC’s Guaranteed Maximum Price (GMP).
Phase I will include the pre- construction services and the preparation and submission of the Guaranteed Maximum Price (GMP).
The Guaranteed Maximum Price (GMP) referenced in section 3.3 and elsewhere within this Facilities Lease for completion of all Work contemplated by DSA Approved Application No. TBD shall be [[insert price in words]] ($[[insert price in figures]]).
In exchange for the ▇▇▇▇’▇ full, timely, and acceptable performance and construction of the Work under this Contract, and subject to all of the terms of this Contract, the CITY will pay the ▇▇▇▇ the “Contract Price” agreed to by the CITY as set forth in the accepted Guaranteed Maximum Price (GMP) Proposal.
Contractor will cause the Project to be constructed within the Guaranteed Maximum Price ("GMP") as set forth in the Contract Documents, and as calculated per Exhibit A to this Facilities Lease.

More Definitions of Guaranteed Maximum Price (GMP)

Guaranteed Maximum Price (GMP) means the sum of the maximum Cost of the Work including the CMAR’s Construction Fee, General Conditions Costs, sales tax, and CMAR Contingency.

Guaranteed Maximum Price (GMP). The maximum amount County is obligated to pay Contractor for the complete performance of the Work and construction of the Project, which amount shall include, but is not limited to, all profit, overhead, on-site and off-site conditions (known and unknown), and administrative costs. The GMP is made up of the sum of the following Contract Price Elements: A. Pre-Construction Services Cost B. Direct Construction Cost B. General Conditions Cost C. Fixed Fee D. Owner’s Allowance Account

Guaranteed Maximum Price (GMP). The Guaranteed Maximum Price (GMP) of One Million Six Hundred and One Thousand Dollars ($1,601,000.00) shall be Decreased in the amount of Three Hundred Eighty Four Thousand One Hundred Two Dollars and Thirty Five Cents ($384,102.35). The new Guaranteed Maximum Price (GMP) shall be One Million Two Hundred Sixteen Thousand Eight Hundred Ninety Seven Dollars and Sixty Five Cents ($1,216,897.

Guaranteed Maximum Price (GMP) means the total cost (including all on and off-site improvements, fees, and requisite professional costs) of constructing the Project contemplated under this Agreement. The scope of the GMP Program Management Agreement will be negotiated upon the completion of the Pre-Construction phase of the Project and the COUNTY’S election to proceed with construction.

Guaranteed Maximum Price (GMP). The Guaranteed Maximum Price (GMP) shall be increased in the amount of Eight Hundred Thirty Five Thousand Dollars ($835,000) for the additional Scope of Work at Melbourne High School. The new Guaranteed Maximum Price (GMP) shall be Twenty Two Million Thirty Five Thousand Dollars ($22,035,000). The cost breakdown for the Additional Work is defined in Exhibit “A”. GMP Summary: Original GMP $21,200,000.00 Amendment No. 1 $ 835,000.00 Revised GMP $22,035,000.00

Guaranteed Maximum Price (GMP) means the not-to-exceed open book price established and graduated that is updated at various milestones of the project. (See Section I.C.).